RESIDENTIAL BROKERAGE

Steps to Investing in an Income Producing Property

Cole Realty identifies properties which can benefit from its efficient and professional management practices, and creates partnerships to own them. We work with both accredited and sophisticated investors to create syndicates.

STEP 1

Prepare the property for rent

We specialize in offering investment properties for lease. We will work with you to review local codes and regulations to ensure your property meets these criteria, and discuss property condition and any necessary repairs and upgrade.

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STEP 2

Determine market value and list for sale

Once your property has been prepared to list, your listing agent will perform a Comparable Market Analysis (CMA) by surveying sold and active listings for similar properties. They will list the property for the appropriate amount, and work with prospects to show the property and guide them through the application process.

STEP 3

Screen tenants

It is imperative that your tenants are propertly screened and qualified to rent from you. Your listing agent and property manager will have a defined set of qualification criteria each tenant much meet, which may also include pet restrictions, or the maximum number of occupants your property will allow.

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STEP 4

Execute lease

With an approved applicant, it’s time to execute a lease. Your manager will have a lease form which has been customized not only for your property, but also for the terms and conditions necessary to allow them to effectively manage the property and adhere to your management agreement.

STEP 5

Normal operation

Once the lease is signed, your manager will introduce the tenant to their team, explain how to pay rent, make a repair request, etc., and things start to run smoothly. Your manager will check in with you from time to time and provide regular financial reports.

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